Hi! First things, first: I'll be traveling for my friends' Ash & Jen's wedding next week, so I *doubt* you'll hear much from me, but feel free to call (leave a voicemail), text and/or email me if needed. We're on a short cruise to the Bahamas to celebrate their pending nuptials, and I, for one, am super excited!

Alright on to the weekly update on all things "Ron" and "real estate." 

BOOST YOUR INCOME: BECOME A LANDLORD

A little anecdotal info on the current and potential windfall for income (rental) properties in and around metro Atlanta. In my community at Tribute Lofts (Old Fourth Ward), I've noticed a one bed/one bath condo lease (LEASE!) for more than $2200 a month, and another agent who lives in my building is buying another unit (a 2/2 with an amazing view) for himself (and his cat) to upgrade to while hanging on to his current (2/1) unit to rent out for more than $2500 per month. 

Being one who's owned here, and made monthly mortgage payments, I can tell you this much: mortgages for condos in this building aren't anywhere NEAR that expensive even with the homeowners' association monthly dues added in. 

Long story-short: being a landlord is PROFITABLE in Atlanta. 

That's my way of putting a bug in your brain about the idea of potentially being a landlord for some secondary income. Have you considered this before? 

Okay, so the reality is, most condo associations have what's called "rent caps," meaning only a percentage (usually 20-25%) of the units in their communities can be rented out. The ideal thing to do when you move into one is to put yourself on the "wait list" so 1-3 years down the road, the option exists for you should you decide to rent out your own and upgrade or move, yourself. 

In older, more establishment neighborhoods, though, where HOAs may no even exist, there's no such cap nor wait. Buying a 2-3 bed home in and around metro Atlanta can still be affordable - requiring just 20% down payment for anyone seeking to rent it out - and quite profitable. You may be asking "sure, but how sure of a thing is it I can rent it out?"

Well, housing demand in Atlanta is already high, and forecasters predict the metro population will continue to explode. "The Atlanta Regional Commission predicts that the 10-county metro area will add 2.5 million people by 2040. Officials project roughly 500,000 of them will live within city limits, more than doubling the city's current population." 

Thoe folks have to live somewhere; why could it not be some cute little West End or West Midtown home you bought now while the market cools a bit? Just some food for thought. 

Naturally I'm only too happy to help guide you through the process, should you have some interest. 

Selling a home is no easy task. It takes expertise, skills, and so much time. I'm not saying it's impossible to do on your own, and while upfront it may save you from paying an agents commission, it's important to factor in what your time is worth. Not to mention there is a high likelihood you'll leave money on the table because selling a home isn't something you do regularly. Don't take on this task without an expert on your side. I can be that expert!